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https://www.newsbtc.com/news/bitcoin/shark-tank-investor-slams-bitcoin-crypto-not-an-institutional-product/
https://www.newsbtc.com/?p=453063
<p><a href=”https://www.newsbtc.com/analysis/btc/wall-street-veteran-kickstarts-own-bitcoin-fund-with-25m-investment/” data-wpel-link=”internal”>Bitcoin in 2020</a> has finally attracted institutional investors with serious wealth and capital to throw around. And it is exactly why the leading cryptocurrency is trading well above its previous peak set in 2017.</p>
<p>But why then, is one of the world’s most “wonderful” investors and TV show “shark” claiming that crypto is “not an institutional product” based on his purchase of the emerging assets made back then?</p>
<h2>Kevin O’Leary: Crypto Is Completely Irrelevant To Institutions</h2>
<p>The biggest narrative driving Bitcoin’s bull run in 2020, has been the sudden interest from institutional investors finally considering the cryptocurrency <a href=”https://www.newsbtc.com/analysis/btc/analyst-relative-to-bitcoin-gold-fails-as-a-store-of-value/” data-wpel-link=”internal”>as a store of value</a> and a way to protect against inflation.</p>
<p>These uses, however, are still developing. But the asset’s potential suggests it could either result in total failure, or complete disruption of the current financial system.</p>
<p><em><strong>Related Reading | <a href=”https://www.newsbtc.com/analysis/btc/bitcoin-dominance-in-december-why-the-future-of-altcoins-hinge-on-this-months-close/” data-wpel-link=”internal”>Bitcoin Dominance In December: Why The Future Of Altcoins Hinge On This Month’s Close</a></strong></em></p>
<p>For whatever reason, for the first time in its history of the asset, well-known figures in finance <a href=”https://www.newsbtc.com/analysis/btc/paul-tudor-jones-bitcoin-is-in-first-inning-like-investing-in-apple-or-google-early/” data-wpel-link=”internal”>are talking about Bitcoin</a>, buying BTC, and telling others why they should do the same.</p>
<p>Yet, Mr. Wonderful himself, Kevin O’Leary, known for his role on TV’s Shark Tank or in the finance world for his investments, says that crypto – including Bitcoin – is “not an institutional product.”</p>
<p><img data-lazyloaded=”1″ src=”https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-860×399.png” loading=”lazy” width=”860″ height=”399″ class=”alignnone size-large wp-image-453078 aligncenter” alt=”bitcoin shark tank” data-sizes=”(max-width: 860px) 100vw, 860px” srcset=”https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-860×399.png 860w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-460×213.png 460w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-768×356.png 768w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-1536×713.png 1536w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-2048×950.png 2048w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-750×348.png 750w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-1140×529.png 1140w”></p><noscript><img loading=”lazy” width=”860″ height=”399″ class=”alignnone size-large wp-image-453078 aligncenter” src=”https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-860×399.png” alt=”bitcoin shark tank” srcset=”https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-860×399.png 860w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-460×213.png 460w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-768×356.png 768w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-1536×713.png 1536w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-2048×950.png 2048w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-750×348.png 750w, https://www.newsbtc.com/wp-content/uploads/2020/12/bitcoin-shark-tank-1140×529.png 1140w” sizes=”(max-width: 860px) 100vw, 860px”></noscript>
<pre>Institutions have been behind the recent Bitcoin uptrend | Source: <a href=”https://www.tradingview.com/symbols/BTCUSD/” target=”_blank” data-wpel-link=”exclude” rel=”follow”>BTCUSD on TradingView.com</a></pre>
<h2>Shark Tank Star Admits Bitcoin Might Be Different, Swims With Peers Call That It Bananas</h2>
<p>Weeks ago, while joining Bitcoin mouthpiece Anthony Pompliano on his podcast, <a href=”https://www.newsbtc.com/news/shame-on-you-shark-tank-judge-tells-bitcoin-bull-pompliano/” data-wpel-link=”internal”>Shark Tank star Kevin O’Leary</a> had begun to warm up to the top crypto. However, he says he’s already long been a “cryptonian” since 2017.</p>
<p>At that time, he bought a variety of Bitcoin, Ethereum, XRP, and other coins available at the time for “fun.” He only spent $100, which is now worth approximately half of what he put in initially.</p>
<p>Using the example, <a href=”https://twitter.com/SquawkCNBC/status/1342093376527724544″ target=”_blank” data-wpel-link=”exclude” rel=”follow”>he admits</a> that maybe Bitcoin is different, but that the cryptocurrency is “insignificant” to the greater financial market and the institutional crowd.</p>
<p><em><strong>Related Reading | <a href=”https://www.newsbtc.com/news/bitcoin/bananas-billionaire-shark-mark-cuban-calls-bitcoin-more-religion-than-solution/” data-wpel-link=”internal”>Bananas! Billionaire Shark Mark Cuban Calls Bitcoin More Religion Than Solution</a></strong></em></p>
<p>He warns that because of potential regulation, institutions won’t want to get caught with their pants down, or worse yet, more and more funds pile in and when the government finally pulls the rug, the “mother of all” class action lawsuits will result.</p>
<p>For those reasons, he’s “out” on Bitcoin. O’Leary isn’t the only Shark Tank investor to be skeptical of crypto either. Mark Cuban claims he’d <a href=”https://www.newsbtc.com/news/bitcoin/bananas-billionaire-shark-mark-cuban-calls-bitcoin-more-religion-than-solution/” target=”_blank” data-wpel-link=”internal”>rather own bananas over Bitcoin</a>. That leaves a few sharks still potentially “in” – which is the next in the tank to take a bite out of Bitcoin?</p>
<pre>Featured image from Deposit Photos, Charts from TradingView.com</pre>

<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Fri, 25 Dec 2020 01:00:57 +0000 Tony Spilotro
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https://www.newsbtc.com/news/bitcoin/shark-tank-investor-slams-bitcoin-crypto-not-an-institutional-product/
Bitcoin
bitcoin
btc
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BTCUSDT
cnbc
crypto
Kevin O’Leary
Shark Tank
squawk box
xbt
xbtusd



https://www.newsbtc.com/analysis/xrp/heres-why-the-xrp-securities-suit-is-worse-than-past-sec-charges/
https://www.newsbtc.com/?p=453064
<p>In what has had an <a href=”https://www.newsbtc.com/analysis/xrp/ripple-lawsuit-triggers-xrp-led-altcoin-apocalypse/” data-wpel-link=”internal”>enormous ripple effect across the crypto industry</a>, the SEC has filed a lawsuit that deems the XRP cryptocurrency token to be an unregistered security. Those on the defensive look to past instances of EOS and KIN as examples of tokens launched that barely got a slap on the wrist, paid a fine, and went on their merry ways.</p>
<p>However, one crypto analyst with a strong understanding of law explains exactly why this Ripple lawsuit is especially bad, and why XRP investors in the US are right to be worried.</p>
<h2>Ripple Lawsuit: SEC Fires Shot Heard Round The Crypto Industry</h2>
<p>This week, Ripple CEO first <a href=”https://www.newsbtc.com/analysis/xrp/ripple-lawsuit-triggers-xrp-led-altcoin-apocalypse/” data-wpel-link=”internal”>broke the news</a> to the media that he was expecting a lawsuit from the United States Securities and Exchange Commission.</p>
<p>The crypto market took pause to digest the new information and consider the potential impact of what was to come, and <a href=”https://www.newsbtc.com/analysis/xrp/xrp-crashes-to-0-26-as-sec-triggered-sell-off-swells/” data-wpel-link=”internal”>then XRP plummeted</a> once investors came to grips with the severity.</p>
<p><em><strong>Related Reading | <a href=”https://www.newsbtc.com/analysis/xrp/ripple-lawsuit-triggers-xrp-led-altcoin-apocalypse/” data-wpel-link=”internal”>Ripple Lawsuit Triggers XRP Led Altcoin Apocalypse</a></strong></em></p>
<p>Retail investors panic sold, and even large hedge funds based in the US have now liquidated their holdings to stay compliant with US law. The expectation is that major exchanges like Coinbase will delist the <a class=”wpg-linkify wpg-tooltip” title=”<h3 class=&quot;wpg-tooltip-title&quot;><span class=&quot;wpg-tooltip-term-title&quot;>Altcoin</span></h3><div class=&quot;wpg-tooltip-content&quot;>Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class=&quot;wpg-read-more&quot;><a href=&quot;https://www.newsbtc.com/dictionary/altcoin/&quot;>» Read more</a><p></div>” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin</a> next.</p>
<p>It immediately caused the cryptocurrency to fall in overall market cap, <a href=”https://www.newsbtc.com/analysis/xrp/xrp-crashes-to-0-26-as-sec-triggered-sell-off-swells/” data-wpel-link=”internal”>bleeding billions in hours</a>. And while the “XRP army,” analysts, and supporters came out in droves with reasons why Ripple will be fine and so will their favorite centralized cryptocurrency, there is serious risk in this situation compared to others.</p>
<p><img data-lazyloaded=”1″ src=”https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-860×399.png” loading=”lazy” width=”860″ height=”399″ class=”alignnone size-large wp-image-453079 aligncenter” alt=” xrp sec lawsuit” data-sizes=”(max-width: 860px) 100vw, 860px” srcset=”https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-860×399.png 860w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-460×213.png 460w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-768×356.png 768w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-1536×713.png 1536w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-2048×950.png 2048w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-750×348.png 750w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-1140×529.png 1140w”></p><noscript><img loading=”lazy” width=”860″ height=”399″ class=”alignnone size-large wp-image-453079 aligncenter” src=”https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-860×399.png” alt=” xrp sec lawsuit” srcset=”https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-860×399.png 860w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-460×213.png 460w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-768×356.png 768w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-1536×713.png 1536w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-2048×950.png 2048w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-750×348.png 750w, https://www.newsbtc.com/wp-content/uploads/2020/12/xrp-sec-lawsuit-1140×529.png 1140w” sizes=”(max-width: 860px) 100vw, 860px”></noscript>
<pre>A look at the aftermath of the SEC lawsuit. However, support is still holding… | Source: <a href=”https://www.tradingview.com/symbols/BTCUSD/” target=”_blank” data-wpel-link=”exclude” rel=”follow”>XRPUSD on TradingView.com</a></pre>

<h2>Why The XRP Suit Doesn’t Compare To EOS Or KIN Cases</h2>
<p>XRP supporters holding on to what they still can, might find comfort in knowing that the companies behind EOS and <a href=”https://www.newsbtc.com/news/sec-kik-crypto/” data-wpel-link=”internal”>KIN tokens</a> were able to successfully settle with the SEC, pay their fines, and move on.</p>
<p>Adam Cochran professional analyst and partner at Cinneamhain Ventures <a href=”https://twitter.com/AdamScochran/status/1341846605163618310″ target=”_blank” data-wpel-link=”exclude” rel=”follow”>breaks down why the Ripple case is different</a>.</p>
<p>First, the SEC asserts that XRP today is still <a href=”https://www.newsbtc.com/analysis/xrp/ripple-effect-what-the-xrp-sec-lawsuit-says-to-new-crypto-projects/” data-wpel-link=”internal”>an unregistered security</a>, while EOS and KIN tokens were only at the time of sale. They also have documentation of centralization, which is what the crypto community often disliked most about XRP.</p>
<p><em><strong>Related Reading | <a href=”https://www.newsbtc.com/analysis/xrp/ripple-effect-what-the-xrp-sec-lawsuit-says-to-new-crypto-projects/” data-wpel-link=”internal”>Ripple Effect: What The XRP SEC Lawsuit Says To New Crypto Projects</a></strong></em></p>
<p>Ripple execs Brad Garlinghouse and Chris Larsen are explicitly named in the case as liable. Cochran also says that exchanges will need to <a href=”https://www.newsbtc.com/analysis/xrp/ripple-effect-what-the-xrp-sec-lawsuit-says-to-new-crypto-projects/” data-wpel-link=”internal”>delist XRP immediately</a> or risk being in violation of securities laws themselves. The SEC has issued a statement offering clarity around the situation, but others have added that although some leniency is being given to exchanges that have offered the token to customers thus far, it doesn’t give them the freedom to keep doing so now that XRP has been deemed a security.</p>
<p>Lastly, the case could drag out for years, causing <a href=”https://www.newsbtc.com/analysis/xrp/ripple-effect-what-the-xrp-sec-lawsuit-says-to-new-crypto-projects/” data-wpel-link=”internal”>XRP to suffer significantly</a> as a result.</p>
<pre>Featured image from Deposit Photos, Charts from TradingView.com</pre>

<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Thu, 24 Dec 2020 23:00:59 +0000 Tony Spilotro
en-US
text/html
https://www.newsbtc.com/analysis/xrp/heres-why-the-xrp-securities-suit-is-worse-than-past-sec-charges/
XRP
crypto
Ripple
sec
xrp
XRPBTC
XRPUSD
xrpusdt



https://www.newsbtc.com/analysis/xrp/176m-liquidated-xrp-crash-leaves-wake-of-destruction-amongst-traders/
https://www.newsbtc.com/?p=453069
<ul>
<li>XRP’s price is showing no signs of ending its tumultuous descent that was sparked by the SEC’s lawsuit against Ripple for conducting an unregistered securities offering</li>
<li>This news sent panic throughout the market and caused the cryptocurrency’s price to crash, falling from over $0.50 before the news to lows of $0.20 yesterday</li>
<li>Where it trends in the mid-term should depend largely on developments surrounding this lawsuit</li>
<li>However, from a technical perspective, the cryptocurrency is currently plagued by immense weakness that may not let up anytime soon</li>
<li>Data surrounding yesterday’s XRP trading activity shows that it saw a massive spike in volume, with the selloff leading to over $176 million in liquidations</li>
</ul>
<p>XRP has been struggling to gain any buy-side support in the time following news regarding the SEC’s lawsuit against Ripple, which alleges that <a href=”https://www.newsbtc.com/analysis/xrp/xrp-price-plummets-as-sec-targets-the-ripple-backed-cryptocurrency/” data-wpel-link=”internal”>XRP</a> is an unregistered security.</p>
<p>This lawsuit created a wave of panic and unease amongst XRP investors and came about shortly after the crypto’s parabolic rally to highs of $0.90.</p>
<p>Yesterday, during the peak of the cryptocurrency’s selloff, XRP’s price nuked to lows of $0.21 before it was able to find some buying pressure.</p>
<p>The subsequent rebound led it up to $0.30, but it was rejected here and has been sliding lower ever since.</p>
<p>This movement’s results have been devastating for buyers, with a total of $176 million in long positions being liquidated over a 24-hour time frame.</p>
<h2><strong>XRP Struggles to Gain Momentum as Rebound Falters</strong></h2>
<p>At the time of writing, <a href=”https://www.newsbtc.com/news/ripple/ripples-xrp-slides-13-on-sec-lawsuit-worries-whats-next/” data-wpel-link=”internal”>XRP</a> is trading up marginally at its current price of $0.26. This marks a notable decline from its recent highs of $0.90 set just a few weeks ago.</p>
<p>The selling pressure seen in the time since the SEC news has been unprecedented and even caused it to shatter the last serious support it had around $0.30.</p>
<h2><strong>Here’s the Aftermath of Yesterday’s Crash</strong></h2>
<p>According to <a href=”https://twitter.com/coinalyzetool/status/1342083081382068233″ data-wpel-link=”exclude” target=”_blank” rel=”follow”>one analytics firm</a>, XRP’s 40% price decline yesterday came about in the midst of ultra-high trading volume and led to a total of $176 million worth of long positions to be liquidated.</p>
<p>This is the highest level of liquidations seen over the past 8 months.</p>
<blockquote readability=”9″><p>“XRP yesterday, a summary: -40% price drop -OI nuked -High trading volume: $10 bln on futures and $3 bln on spot. On futs, it was the second highest trading volume -Mass liquidation: $176 mln longs got liquidated. The highest level of liquidations over the last 8 months…”</p></blockquote>
<p><img data-lazyloaded=”1″ src=”https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-860×573.jpg” loading=”lazy” width=”860″ height=”573″ class=”aligncenter size-large wp-image-453070″ alt=”XRP” data-sizes=”(max-width: 860px) 100vw, 860px” srcset=”https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-860×573.jpg 860w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-460×307.jpg 460w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-768×512.jpg 768w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-750×500.jpg 750w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-1140×760.jpg 1140w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88.jpg 1200w”></p><noscript><img loading=”lazy” width=”860″ height=”573″ class=”aligncenter size-large wp-image-453070″ src=”https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-860×573.jpg” alt=”XRP” srcset=”https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-860×573.jpg 860w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-460×307.jpg 460w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-768×512.jpg 768w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-750×500.jpg 750w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88-1140×760.jpg 1140w, https://www.newsbtc.com/wp-content/uploads/2020/12/EqAJcytWMAEBi88.jpg 1200w” sizes=”(max-width: 860px) 100vw, 860px”></noscript>
<pre>Image Courtesy of Coinalyze.</pre>
<p>Unless there’s some massive turn of events that work in <a href=”https://www.newsbtc.com/analysis/xrp/ripple-effect-what-the-xrp-sec-lawsuit-says-to-new-crypto-projects/” data-wpel-link=”internal”>XRP’s favor</a>, the SEC lawsuit will likely be a “black swan” that causes a continued descent.</p>
<pre>Featured image from Unsplash.
Pricing data from <a href=”https://www.tradingview.com/symbols/XRPUSD/” data-wpel-link=”exclude” target=”_blank” rel=”follow”>TradingView</a></pre>

<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Thu, 24 Dec 2020 21:00:52 +0000 Cole Petersen
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https://www.newsbtc.com/analysis/xrp/176m-liquidated-xrp-crash-leaves-wake-of-destruction-amongst-traders/
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XRPUSD
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